Senate stalls Cordray’s nomination hearing until after Labor Day

News

Senate stalls Cordray’s nomination hearing until after Labor Day

WKSU – The Senate has delayed until early September the confirmation hearing of former Ohio Attorney General Richard Cordray to head the new Consumer Financial Protection Bureau.

President Obama nominated Cordray last month to become director of the new agency, which is supposed to protect consumers in transactions including mortgages and credit cards. But Ohio Sen. Rob Portman and 43 other Senate Republicans are vowing to block any nominee until the White House agrees to change the agency.

That draws the ire of Ohio’s other senator, Democrat Sherrod Brown.

“I asked the Senate historian (and) we’ve never seen in this body in the country’s history, that we could find, one political party saying, ‘We are not going to confirm this person or anybody else — nothing personal, Rich, … because we don’t like the agency and until you change the agency, we’re not going to staff it.'”

Right click to download the MP3.
Read the whole article »